Monthly Archives: February 2021

Sweden extends digital krona digital currency pilot until 2022

Sweden’s exploration into CBDCs will continue until 2022, as the nation’s central bank seeks to construct a digital version of the krona. Sweden’s central bank has extended an ongoing pilot aimed at creating a digital version of the Swedish krona until 2022, as was recently announced by the nation’s Riksbank. In combination with professional services firm Accenture, the “e-krona” pilot program was created to address what the Riksbank sees as “the marginalization of cash”: “The Riksbank sees potential problems with the marginalisation of cash and has therefore […]

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Bitcoin volatility lower than 2017 levels as price smashes $51K

Bitcoin volatility is not at the same level seen during the 2017 bull run but analysts still say lower price swings are necessary to maintain upward momentum. Bitcoin (BTC) has hit a new high above $51,300 in a continuation of its bullish advance that begun in October 2020. According to Bloomberg, the current run is different from the 2017 bull rally that topped out below $20,000 in terms of volatility. Indeed, data from Woobull Charts puts Bitcoin’s 60-day volatility at 14.25%, a significant decline from the over […]

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Banks increasingly interested in Bitcoin, says Elliptic co-founder

Several financial institutions in the U.S. are “are seriously considering launching some type of cryptocurrency service,” an Elliptic co-founder said. Global banking institutions have been expressing more interest in Bitcoin (BTC) as the cryptocurrency consistently breaks new all-time highs, according to a new report. Tom Robinson, co-founder of major British crypto firm Elliptic, told The Telegraph Wednesday that his company saw a massive surge in Bitcoin-related inquiries from global banks. The executive noted a wave of Bitcoin-associated demand from United States-based banking institutions over the past two […]

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Polkadot indicator? Data shows Bitcoin has been following DOT price for months

Data shows Polkadot’s price action has been a bellwether for Bitcoin in the past few months. Polkadot (DOT) is seeing an impressive 180% gain in 2021 so far, surpassing XRP for fourth place by market capitalization.  Polkadot is a multi-chain protocol that has several “parachains,” similar to Ethereum Shards. DOT works on its proprietary technology called Substrate. The platform is fully interoperable between different blockchains while maintaining the ability to process thousands of transactions per second. Substrate 3.0, which will bring Ethereum compatibility, is expected to launch in the […]

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Bitcoin selling at 36% premium in Nigeria

In the wake of the recent ban on Nigerian banks’ servicing of crypto exchanges, Bitcoin’s price in the country has seemingly spun out of control. It’s been roughly 11 days since the Central Bank of Nigeria banned all regulated financial institutions from providing services to cryptocurrency exchanges in the country. At the risk of stiff penalties, all banks and institutions were directed to close crypto-related firms’ accounts immediately.  In the wake of the controversial move, public interest in Bitcoin (BTC) in Nigeria continues to outstrip other countries, […]

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German cannabis company hedges with Bitcoin in case euro crashes

SynBiotic SE cites “legitimate concern” about a “massive devaluation of fiat money.” SynBiotic SE, a German cannabis company, has announced that it is following the lead of companies like MicroStrategy and Tesla in shifting part of its liquid cash holdings into Bitcoin (BTC). In a Feb. 16 update on its website, the company stated that the move was spurred by “legitimate concern about a massive devaluation of fiat money,” due to an “excessive increase” in both euro and U.S. dollar money supply. CEO Lars Müller went further, […]

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GPU hardware firm riles gaming community by flirting with crypto miners

Hungry for coin? A computing hardware firm has angered gamers after apparently marketing the already scarce Nvidia RTX 30 series to cryptocurrency miners. Computing hardware manufacturer Zotac angered a customer base of loyal gamers on Feb. 16 after it posted a tweet apparently marketing its new Nvidia 30 series graphics cards to cryptocurrency miners. Zotac’s post showed a stack of what looks to be GeForce RTX 3070 White Edition GPUs, along with the caption, “An army of ZOTAC GAMING GPUs hungry for coin!” An army of #ZOTACGAMING […]

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Dubai Government Licensing Entity Now Accepts Bitcoin for Payments

A government-owned entity in Dubai has started accepting bitcoin, ether and tether as payment for its services, according to local media reports. Kiklabb is a free trade zone that helps companies set up shop in Dubai, a wealthy city and emirate in the United Arab Emirates (UAE). Kiklabb issues trade and other licenses as well as processes visas. The entity also leases office space to its customers on-board the Queen Elizabeth 2 cruise liner anchored at Port Rashid in Dubai. Payments for these and other services can […]

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Microsoft has no plans to make Tesla-like move into Bitcoin, says president

Microsoft president Brad Smith did not exclude the possibility of the company putting Bitcoin on its balance sheet one day. Microsoft, the second-largest company in the United States, does not apparently have any short-term plans to put Bitcoin (BTC) on its balance sheet, according to the firm’s president Brad Smith. In a Feb. 16 interview with CNN’s Julia Chatterley, Smith still hinted that Microsoft could still change its mind about a Bitcoin investment. When asked whether Microsoft is discussing any cryptocurrency diversification plans following Tesla’s $1.5 billion […]

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Bitcoin hits a new high of $51.3K as analyst declares ‘historic’ parabolic advance

It’s all systems go for Bitcoin as bulls look to cement $50,000 as support and create the “new normal” for BTC/USD. Bitcoin (BTC) hit new lifetime highs of more than $51,200 on Feb. 17 as it tackled what trader Peter Brandt confirms is a “parabolic advance.” BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin enters uncharted $50,000 zone Data from Cointelegraph Markets and TradingView showed BTC/USD passing the $50,000 resistance level again on Wednesday, this time continuing into uncharted territory. Tuesday had seen Bitcoin hit $50,000 for […]

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